CHICAGO, Aug. 8, 2024 /PRNewswire/ -- The gesture recognition and touchless sensing market is projected to grow from USD 24.6 billion in 2024 to USD 62.2 billion by 2029; it is expected to grow at a CAGR of 20.4% during the forecast period according to a new report by MarketsandMarkets™. The increasing adoption of gesture recognition and touchless sensing in the consumer electronics and automotive industry, along with increasing government initiatives, is driving market growth. Furthermore, the rising demand for touchless biometric equipment and the growing usage of gesture recognition in the gaming industry are expected to create lucrative growth opportunities for the market during the forecast period. 

MarketsandMarkets Logo

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=369

Browse in-depth TOC on "Gesture Recognition and Touchless Sensing Market

195 – Tables
70 – Figures
242 – Pages

Gesture Recognition and Touchless Sensing Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 24.6 billion

Estimated Value by 2029

$ 62.2 billion

Growth Rate

Poised to grow at a CAGR of 20.4%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Technology, Touchless Sensing Product, Gesture Recognition Type, Industry and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

High costs and complex framework of product technologies

Key Market Opportunities

Adoption of gesture recognition and touchless sensing technologies in the smart home market

Key Market Drivers

Growth in digitalization and rise in technological advancements across industry verticals

The online segment is expected to account for the largest gesture recognition market share in 2024.

Online gesture recognition scales or rotates a tangible object and controls a machine or computer in real-time. Gesture recognition is the process of capturing and analyzing hand or body movement using cameras, sensors, or any other input devices. Online recognition processes gestures while they are happening. Therefore, it gives instant system responses and provides a more intuitive and responsive user experience; on the other hand, offline gesture recognition has applications in scenarios like video analysis or post-processing. Many applications require real-time adjustments and adaptability to user gestures; online recognition is good at handling such dynamic interactions.

The touchless biometric equipment segment is expected to account for the largest share of the touchless sensing market in 2024.

In 2024, the touchless biometric equipment segment held the largest share of the touchless sensing market, and a similar trend is projected to be seen during the forecast period. The growing application of biometric equipment in the automobile, consumer electronics, commercial, and industrial sectors will continue to drive the growth of the touchless biometric equipment market. Fingerprint technology depends on skin condition; hence, its effectiveness in diverse populations and environments varies. Contactless biometric sensors solve these challenges and, in doing so, include those who fingerprint-based techniques exclude.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=369

The Asia Pacific market is expected to witness the highest CAGR in the gesture recognition and touchless sensing market during the forecast period.

Asia Pacific will continue to have the largest share in the projection period by 2029. China, India, South Korea, and Japan are the main countries contributing towards growth in the Gesture Recognition and Touchless Sensing industry in the Asia Pacific region. The growing security concerns in the big countries of this region have been fueling the demand for accurate and reliable biometric systems. The e-passport program has picked up in several countries, while the citizen ID program initiative has generated a growing demand for touchless biometrics by the Indian government. The demand for touchless biometrics is rising owing to the accuracy of biometric systems. The huge demand for smartphones and tablets is a prominent driver for the gesture recognition market in the Asia Pacific region. This is evidenced by the number of products launched by OEMs in the last two years. The key players in touchless biometric solutions include Fujitsu Limited (Japan), Omron Corporation (Japan), NEC Corporation (Japan), and Gesture Research (India).

Key players

Key players in the gesture recognition and touchless sensing companies include Microsoft Corporation (US), Microchip Technology Inc. (US), Google LLC (US), Infineon Technologies (Germany), Apple Inc. (US), Sony Depthsensing Solutions (Belgium), Cognitec Systems GmbH (Germany), OMNIVISION (US), IrisGuard (UK), and GestureTek (Canada), and among others.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=369

Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

Head Mounted Display (HMD) Market Size, Share, Statistics and Industry Growth Analysis Report by Type, Technology (AR, VR), Application (Consumer, Commercial, Enterprise & Industry, Aerospace & Defense), Product Type (Head-mounted, eyewear), Component, Connectivity and Region - Global Forecast to 2029

Iris Recognition Market Size, Share, Statistics, Industry Growth Analysis Report by Component (Hardware, and Software), Product (Smartphones, Scanners), Application (Identity Management and Access Control, Time Monitoring, E-payment), Vertical and Region - Global Forecast to 2027

Americas Gesture Recognition & Touchless Sensing Market by Technology (2D, 3D, Ultrasonic, IR, Capacitive); Product (Biometric, Sanitary); Application (Healthcare, Electronics, Automotive); Country (U.S., Canada, Mexico, Brazil, Argentina) - (2013 - 2018)

Europe Gesture Recognition & Touchless Sensing Market by Technology (2D, 3D, Ultrasonic, IR, Capacitive); Product (Biometric, Sanitary); Application (Healthcare, Electronics, Automotive); Region (Germany, U.K., France, Italy, MEA) - (2013 - 2018)

Motion Sensor Market by Motion Technology (IR, Ultrasonic, Microwave, Dual Technology, & Tomographic), Application (Consumer Electronics, Automotive, Aerospace & Defense, Healthcare, & Industrial), and Geography - Global Forecast to 2025

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:

Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/touchless-sensing-gesturing-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/touchless-sensing-gesturing.asp

Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg

 

Cision View original content:https://www.prnewswire.com/news-releases/gesture-recognition-and-touchless-sensing-market-worth-62-2-billion-by-2029---exclusive-report-by-marketsandmarkets-302217721.html

SOURCE MarketsandMarkets

Copyright 2024 PR Newswire